MidCap Business Credit expanded its product offerings this year by launching MidCap Equipment Finance. Led by Saurin Shah, a co-founder of Nations Equipment Finance (now SLR Equipment Finance), the new business aims to help MidCap become a one-stop financing partner for the middle market.
SSG Capital Advisors acted as the investment banker to Panhandle Oilfield Services, a portfolio company of Argosy Private Equity, in the placement of a $12 million asset-based credit facility.
MidCap Business Credit completed a $17 million asset-based credit facility for Virginia Explosives & Drilling Company. The opportunity was sourced out of MidCap’s regional office in Baltimore.
MidCap Business Credit completed a $5 million asset-based credit facility for Crozier Welding. Founded in 1980 and headquartered in Coshocton, OH, Crozier Welding specializes in the design and manufacturing of oil and gas production equipment.
MidCap Business Credit completed a $12 million asset-based credit facility for Responsible Energy Operations, a thermal coal mining and processing business headquartered in Petersburg, IN.
MidCap Business Credit completed a $15 million asset-based credit facility for Walker Midwest and Walker West, which were formed to acquire the assets of Millenia Products Group and WAC pursuant to an Article 9 UCC sale.
MidCap Business Credit increased its senior credit facility with Wells Fargo Capital Finance to $200 million. This upsize will enable MidCap to support the growth of its existing asset-based lending business and support the launch of its equipment finance vertical.
MidCap Business Credit formed a new entity, MidCap Equipment Finance, and hired a team of investment professionals to begin offering equipment loans and leases. Saurin Shah, co-founder of SLR Equipment Finance (formerly known as Nations Equipment Finance), will lead the new entity.
MidCap Business Credit closed on a $9 million asset-based credit facility for Titan Production Equipment, headquartered in The Woodlands, TX.
MidCap Business Credit closed on a $6 million asset-based credit facility for Texas Contract Manufacturing Group and its wholly-owned subsidiaries, Lor-Van Manufacturing and Apex Machining.